Why Hedera might pull off a surprising comeback in 2023’s NFT market

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Hedera made some significant developments in 2022, paving the way to becoming an NFT powerhouse. A price pivot could be on the way, as HBAR was shy of oversold conditions despite the downside. Now that 2022 is ending, it is time to recap the performance of some of the top layer 1s. Hedera [HBAR] rose […]

Hedera made some significant developments in 2022, paving the way to becoming an NFT powerhouse.Now that 2022 is ending, it is time to recap the performance of some of the top layer 1s.

rose to prominence over the last year, as it saw some significant developments that may lay the foundation for strong growth ahead.There were notable developments and partnerships in 2022 that underscored Hedera’s potential for more growth in the NFT market. These included the network’s collaboration with LG Art Lab, a partnership that aimed to facilitate NFT distribution.

In a tweet on 27 December, LG Art Lab reiterated its commitment towards building on the Hedera network despite the challenges the market faced in 2022. As the markets continue to work out the inner details of FTX’s collapse, HBAR has had volatile movements as projects continue to build on top of Hedera.

In a recent interview with HBAR Foundation’s Chief Legal Officer, he had stated that Hedera has already issued grants to…

 

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